Andrew Maguire

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Throwing Sliver...
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Andrew Maguire

This should be good. I can't wait for my Chinese Silver brothers to get into the market!

“China is keen to diversify their cash holdings and is also encouraging citizens to make investments in gold and silver.  The Pan Asia Gold Exchange is another step in this direction by opening up ease of access to physical gold and silver to their bank customers.  This physical backed exchange is going to be a big game-changer.

Just look at the scale of this to get an idea of how massive this game-changer will be, The Agricultural Bank of China has over 320 million retail customers and 2.7 million corporate customers and has integrated its customer account information system with this platform.

By creating the first ever rolling spot contract, Chinese bank customers will for the first time have ease of access to 10 ounce gold contracts in Renminbi directly from their bank accounts and with the click of a mouse.  To give a further idea of scale, if just 1% of their customers bought a single 10 ounce contract, that would equate to 1,000 tons of physical gold being drawn down....

Andrew Maguire

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/6_Whistleblower_Maguire_-_This_Will_Destroy_Gold_%26_Silver_Shorts.html

Edited by admin on 11/08/2014 - 06:09
Know More
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Game changer

EE will not be very pleased with this and will probably attempt to stop it by arranging a "Chinese-people-want-democracy-we-must-send-in-NATO" campaign.

UGrev
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If there's one thing the

If there's one thing the Chinese do really well, it's reverse engineer our shit, reproduce it cheaper and make more money off it. 

Throwing Sliver...
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Audio

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/11_Andrew_Maguire.html

USD/RMB

http://www.cmegroup.com/trading/fx/usd-renminbi-futures.html#contractspecs

The Chinese renminbi – or RMB – has experienced rapid growth in deposit and trading volume both on- and off-shore. The renminbi is now being used for business transactions in multiple off-shore locations which include Hong Kong, Singapore, Korea, Australia and other areas around the world. Accordingly, a need for capital risk management tools for the Chinese currency has emerged.

To address this need, CME Group has developed USD/RMB futures.
These contracts will be offered in standard and E-micro sizes and will
be quoted in conventional interbank FX market terms.

  • Standard contracts: Based on USD 100,000
  • E-micro contracts: 1/10 the standard contract size, based on USD 10,000
the yonk
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andrew maguire

Jeff Christian tried to impugn the credentials of Andrew Maguire during the debate.  I remember seeing a document on the internet on Goldman Sachs letterhead referencing a statement made by an Andrew Maguire. I don't remember the context of the document and have been unable to find it since, however at the time I was trying to determine whether AM actually was a precious metals trader with GS and that document made a believer out of me.

Silver_Watchdog
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That debate was pointless and

That debate was pointless and nothing new. Jeff Christian has stated all along that the rules of Comex/Nymex state that cash settlements will be made if there is an insufficient supply. He's pretty much saying that's the way the market is.

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